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General Mills Uses New Data to Launch ‘Good Is Good Enough’ Campaign to Remove Parental Guilt Associated With Nutritious Eating

General Mills Uses New Data to Launch ‘Good Is Good Enough’ Campaign to Remove Parental Guilt Associated With Nutritious Eating

Registered Dietitians agree nutritious eating shouldn’t be a challenge, and say ‘Good Is Good Enough’ when feeding your kids a bowl of cereal.

MINNEAPOLIS–(BUSINESS WIRE)–
The definition of “perfect eating” has become misinformed over the years. It’s important that people understand nutrient-dense eating can – and should – include food that is accessible and affordable to all. According to new survey results from General Mills Big G Cereals, many parents and caregivers put a lot of pressure on themselves and feel that it is their responsibility to ensure their children eat a balanced diet1. Nutrition can seem challenging when factoring in cost, time and taste the whole family will enjoy. But sometimes a nutrient-dense option may also be the easiest one for a family – a bowl of cereal.

For many parents, nutritious may mean attempting to provide a homemade breakfast, as those are perceived by nearly eight in 10 (77%) of parents with children under 18 to provide more nutrients than convenience foods1. In reality, a bowl of cereal is hard to beat when it comes to nutrient density, and few other breakfast foods offer the same mix of essential nutrients found in cereal. In fact, research shows, people who skip breakfast don’t make up these nutrients in other parts of their day, resulting in nutrient gaps and poorer diet quality2.

“Good nutrition does not have to be hard and should fit within what one can afford, access and enjoys eating,” said Amy Cohn, Registered Dietitian and Nutrition Lead at General Mills. “Many cereals are filled with essential nutrients, like fiber, vitamins, and minerals, along with whole grain, to help support growing kids. Ultimately, it’s important to teach kids to have a positive relationship with all foods so they grow into adults who value their mental and physical health, while still enjoying foods they love – the core of our platform: Good is Good Enough.”

As the world has changed the last eighteen months, families have had to change with it. While they spent more time together during the pandemic and rediscovered the heart of the home is the kitchen, the need for convenience, affordability and accessibility remains. 60% of parents agree that social media puts additional pressure on them to be the “best,” with roughly a third (34%) agreeing that images of “perfect” family meals on social media make them feel guilty about what their family eats1.

But not every meal needs to be photo-worthy or perfect – many times a bowl of cereal as part of a complete breakfast does the trick. With nutrient-dense options from General Mills Big G Cereals like Cheerios, Fiber One, Chex, and others, prove that it can be easy to give kids a good breakfast.

“The quest for ‘perfect’ eating has made the pendulum swing a bit too far, vilifying certain foods and creating unintended negative consequences. As a Registered Dietitian and new mom, I know how important it is to serve foods that are not only nutritious, but taste great too,” said Tracy Lockwood Beckerman, MS, RD. “Including General Mills Big G Cereals at breakfast is an easy way to help give your kids nutrients they need, while giving yourself a break during hectic mornings. Parenting is hard enough as it is; we shouldn’t make things more challenging!”

For more information on Big G Cereals, head to www.generalmills.com.

About General Mills

General Mills makes food the world loves. The company is guided by its Accelerate strategy to drive shareholder value by boldly building its brands, relentlessly innovating, unleashing its scale and being a force for good. Its portfolio of beloved brands includes household names such as Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie’s, Wanchai Ferry, Yoki and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2021 net sales of U.S. $18.1 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S. $1.1 billion.

1 YouGov conducted a survey among U.S. adults with children under 18 years of age. A total of 1,015 responses were collected and the survey was fielded between July 1st and July 8th, 2021. Data have been weighted and are representative of US parents with children under 18.

2 Marissa Fanelli, S. (2020). Skipping breakfast is associated with nutrient gaps and poorer diet quality among adults in the United States. https://www.cambridge.org/core/journals/proceedings-of-the-nutrition-society/article/skipping-breakfast-is-associated-with-nutrient-gaps-and-poorer-diet-quality-among-adults-in-the-united-states/C7943690D97E913FA19B936BFBDB0F2A

Golin

Marissa Driscoll

847-707-9451

[email protected]

General Mills

Kelsey Roemhildt

763-764-6364

[email protected]

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Retail Marketing Communications Women Teens Parenting Fitness & Nutrition Children Men Baby/Maternity Supermarket Family Food/Beverage Consumer Health

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KKR to Sell Industrial Real Estate Portfolio to Oxford Properties for $2.2 Billion

KKR to Sell Industrial Real Estate Portfolio to Oxford Properties for $2.2 Billion

NEW YORK–(BUSINESS WIRE)–
KKR, a leading global investment firm, today announced that KKR has agreed to sell a 14.5 million square foot infill and light industrial portfolio to Oxford Properties (‘Oxford’), a leading global real estate investor, asset manager and business builder, for approximately $2.2 billion. The portfolio consists of 149 high-quality distribution buildings strategically located across 12 major industrial U.S. markets, including the Inland Empire, Dallas, Atlanta, Phoenix, Chicago, Houston, Tampa, Orlando, San Diego and the Baltimore Washington corridor. The transaction is anticipated to close in the coming months.

Since 2018, KKR strategically aggregated and scaled this portfolio of well located, high barrier to entry infill warehouses with a focus on high-growth markets with diverse multi-faceted demand drivers, near major supply chain hubs and transportation corridors. Roger Morales, Partner and Head of Real Estate Acquisitions, and Ben Brudney, Director on KKR’s real estate team leading its logistics efforts, architected the strategy and assembled the portfolio though more than 50 individual property transactions together with KKR’s industrial operating platform, Alpha Industrial Properties.

“Four years ago, we set out to create a large stabilized portfolio that would benefit from secular changes in the logistics sector largely driven by e-commerce and consumer preference changes. Given the highly fragmented asset class, the strategy included the creation of a best-in-class operating platform and a targeted investment effort focused on growing cities and key distribution nodes in the U.S.,” said Mr. Morales. “Today’s transaction not only demonstrates how this strategy is performing for our investors, but also reflects the tremendous market opportunity we continue to see in industrial real estate.”

Following the completion of the sale of the portfolio, KKR will continue to own over 20 million square feet of industrial property across major metropolitan areas in the U.S. Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $32 billion across the U.S., Europe and Asia as of June 30, 2021. KKR’s global real estate team consists of over 110 dedicated investment professionals, spanning both the equity and credit business, across 11 offices and eight countries.

”High quality, infill, consumption-driven industrial portfolios of scale trade infrequently, so this transaction is an important next step for Oxford to build a large scale industrial business in the U.S.,” commented Ankit Bhatt, VP of Investments at Oxford Properties who leads the firm’s U.S. industrial investment strategy. “Growing our U.S. industrial business is one of Oxford’s highest conviction global investment strategies as we continue to build, buy and invest in the physical infrastructure that serves the digital economy. The acquisition serves as a launchpad for Oxford’s light industrial business which perfectly complements our big box development platform, IDI Logistics. We believe scale will become an important differentiator for industrial real estate operators, and we continue to pursue opportunities in the U.S. light industrial sector.”

Oxford has substantially grown its global industrial business in recent years. In January 2019, it acquired IDI Logistics alongside Ivanhoe Cambridge for US$3.5 billion. In 2020, it became a significant investor in the U.S.-based Lineage Logistics, the world’s leading cold storage logistics provider. Oxford was a cornerstone investor in the IPO of ESR Cayman, the leading logistics real estate platform in Asia, and follow-on investments have made it one of the largest institutional investors in the company. In January this year, it announced it had agreed to acquire M7 Real Estate (‘M7’), a market-leading pan European logistics investment and asset manager. The acquisition of M7 accelerates Oxford’s ability and ambition to deploy more than US$4 billion into European industrial real estate by 2025.

“Across the globe, we are building, buying and growing world class industrial business in service of our global capital allocation priorities,” commented Chad Remis, EVP of North America at Oxford Properties. “As a result of this transaction, and recent activity in the sector, we are rapidly closing in our stated goal to have one-third of our global equity deployed into the industrial asset class. Having previously been a mezzanine lender on the portfolio acquired from KKR, we have a high degree of conviction on the growth potential of these assets. It also demonstrates the power of Oxford’s fully integrated Credit business to help drive future investment synergies while generating attractive returns.”

CBRE National Partners acted as real estate advisor for KKR. JLL Industrial Capital Markets acted as advisor for Oxford.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Oxford Properties

Oxford Properties Group (“Oxford”) is a leading global real estate investor, asset manager and business builder. It builds, buys and grows defined real estate operating business with world-class management teams. Established in 1960, Oxford and its portfolio companies manage approximately C$70 billion of assets across four continents on behalf of their investment partners. Oxford’s owned portfolio encompasses office, logistics, retail, multifamily residential, life sciences and hotels; it spans more than 150 million square feet in global gateway cities and high-growth hubs. A thematic investor with a committed source of capital, Oxford invests in properties, portfolios, development sites, debt, securities and real estate businesses across the risk-reward spectrum. Together with its portfolio companies, Oxford is one of the world’s most active developers with over 100 projects currently underway globally across all major asset classes. Oxford is owned by OMERS, the Canadian defined benefit pension plan for Ontario’s municipal employees.

For KKR

Cara Major and Miles Radcliffe-Trenner

+1 212 750 8300

[email protected]

For Oxford Properties

Daniel O’Donnell and Chris Sarpong

+1 416 865 8300

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT

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Aspen Snowmass Implements Agilysys IG OnDemand For Contactless Food & Beverage Ordering & Payment Self-Service Across Resorts

Aspen Snowmass Implements Agilysys IG OnDemand For Contactless Food & Beverage Ordering & Payment Self-Service Across Resorts

World-class Ski Resort, Aspen Snowmass, Deploys Agilysys Contactless F&B Ordering/Payment To Promote Social Distancing And Provide A Safe And Healthy F&B Experience For Staff And Guests Alike

ALPHARETTA, Ga.–(BUSINESS WIRE)–Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation cloud-native SaaS and on-premise hospitality software solutions and services, today announced that Aspen Snowmasshas expanded its existing relationship with Agilysys with the addition of its modern cloud-native SaaS food and beverage ordering and payment solution, IG OnDemand.

A current user of Agilysys’ award-winning InfoGenesis POS solution, Aspen Snowmass again looked to Agilysys to meet their enhanced health and safety procedures for guest self-service food & beverage ordering, including encouraging social distancing. IG OnDemand will allow guests to place food & beverage orders from anywhere using their own device – phone, tablet, laptop – and collect their order at any of the resorts’ pick-up counters, enjoying a contactless dining experience including payment. As a result, Aspen Snowmass can increase revenue opportunities while enhancing guest safety and service.

“When we looked for a way to extend our successful InfoGenesis POS solution with contactless guest self-service, Agilysys IG OnDemand was ready,” said Troy Howard, Managing Director of Technology at Aspen Skiing Company. “IG OnDemand will help us stay out front by offering healthy F&B services while encouraging social distancing to enhance the guest experience as well as optimize operations and increase F&B revenue.”

“We are excited about our expanding relationship with Aspen Snowmass,” said Agilysys Senior Vice President, Product Engineering and Customer Support, Sridhar Laveti. “IG OnDemand will enhance the food & beverage contactless self-service guest experience for guests and staff. We are proud to be their F&B technology partner, and we look forward to helping facilitate a more efficient and seamless guest experience with our rapid product innovation and world class customer service.”

IG OnDemand is amodern cloud-native SaaS contactless F&B ordering solution that offers an intuitive guest-facing order and pay experience. IG OnDemand allows guests to place and pay for orders using their own device – phone, tablet, laptop – making the ordering process easier and freeing up staff to spend more time with guests. And with its advanced features for order-modifications at any time, in-room dining orders, location-specific QR codes for order delivery, tipping configuration and more, the result is dramatically increased revenue opportunities and more chances to enhance guest service.

About Aspen Snowmass

Established in 1946, Aspen Snowmass owns and operates four mountains – Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk – creating premium, sustainable and transformative experiences in recreation, culture and nature. In addition, the company runs the award-winning Ski & Snowboard Schools of Aspen Snowmass, Four Mountain Sports rental and retail shops, and a collection of sustainably-sourced on-mountain food & beverage outlets. Aspen Snowmass works to drive positive social change through climate, community, and minority group advocacy and investment. For more information about Aspen Snowmass, visit www.aspensnowmass.com. Follow @aspensnowmass on Twitter, Instagram or Facebook.

About Agilysys

Agilysys has been a leader in hospitality software for more than 40 years, delivering innovative cloud-native SaaS and on-premise guest-centric technology solutions for gaming, hotels, resorts and cruise, corporate foodservice management, restaurants, universities, healthcare, and sports and entertainment. Agilysys offers the most comprehensive software solutions in the industry, including point-of-sale (POS),property management (PMS),inventory and procurement, payments, and related applications, to manage the entire guest journey. Agilysys is known for its leadership in hospitality, its broad product offerings and its customer-centric service. During recent years, Agilysys has made major investments in R&D and has successfully modernized virtually all their longstanding trusted software solutions. Some of the largest hospitality companies around the world use Agilysys solutions to help improve guest loyalty, drive revenue growth and increase operational efficiencies. Agilysys operates across the Americas, Europe, the Middle East, Africa, Asia-Pacific, and India with headquarters located in Alpharetta, GA. For more information, visit www.agilysys.com.

Media: Robert Shecterle, Agilysys, Inc., 770-810-6046, [email protected]

Investors: Jessica Hennessy, Agilysys, Inc., 770-810-6116, [email protected]

KEYWORDS: United States North America Georgia

INDUSTRY KEYWORDS: Technology Mobile/Wireless Other Retail Software Food/Beverage Lodging Retail Data Management Travel

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Momentive launches Workplace Equity IQ to help companies measure DEI like it matters—and take action on the insights

New software-backed-services offering empowers customers like Headspace and Chime to identify DEI smoke points and chart a course to solving them

SAN MATEO, Calif., Aug. 17, 2021 (GLOBE NEWSWIRE) — Momentive (NASDAQ: MNTV—formerly SurveyMonkey), a leader in agile experience management, today announced the launch of Workplace Equity IQ, a solution that pairs the company’s AI-powered employee engagement solution with specialized professional services from Momentive DEI experts. With Workplace Equity IQ, customers like Headspace and Chime will go beyond merely tracking the representation of diverse groups to truly understand the beliefs and experiences of employees across intersectional identities and use that information to inform their DEI roadmap and HR strategy.


Workplace Equity IQ
 leverages the Momentive agile experience platform and in-house specialized consulting. The solution helps companies circulate employee engagement studies that navigate sensitive DEI topics to gain a deeper, more realistic understanding of inclusion, safety, trust, and experiences of bias among employees, all while being mindful of employee sensitivity and confidentiality. Momentive DEI experts will layer the findings with data from HR information systems (HRIS) to build a clear, visual understanding of employee experience today and deliver a customized strategy for closing gaps based on decades of DEI expertise.

“Everyone wants to address these issues, but the reality of inequity is often centered around specific and nuanced behaviors, language, culture, and experiences that range from macroaggressions to microaggressions, and everything in between,” says Antoine Andrews, Chief Diversity & Social Impact Officer at Momentive, who has two decades of experience leading DEI teams at companies like ​​Gap Inc., Symantec, and Nike. “Getting the truth in a way that includes intersectionality is no easy task, and people are anxious about getting it wrong. That’s why we designed Workplace Equity IQ to support customers in getting the right data analyzed in the right way, with expert guidance to help refine your roadmap and strategy for the future.”

Last year’s widespread protests against racism prompted countless organizations to make public commitments to diversity and equitable treatment for all employees, and the pandemic has highlighted continued, glaring inequities that organizations must still acknowledge and address across the entire employee experience. Against this backdrop, Momentive grew its Social Impact team to include Andrews and Living Corporate founder and CEO Zach Nunn—respected DEI experts with a deep understanding of the challenges employees experience and the intersecting factors that lead to disengagement, attrition, and PR crises. Together with the Momentive product, engineering, and professional services teams, Andrews and Nunn led the development of Workplace Equity IQ to help companies get smarter about DEI and create better workplaces for people of all backgrounds.

“We are proud to partner with Momentive on the launch of Workplace Equity IQ, which is sorely needed in the business community,” says Rick Jensen, Chief People and Places Officer for Headspace. “We plan to use the solution to make sure employees feel safe sharing their beliefs and experiences, and to use the data-driven analysis to validate our current strategy and develop a roadmap for future efforts.”

“Last summer, company leaders reevaluated their role in advancing DEI at their organizations and made a lot of promises,” says Zander Lurie, CEO of Momentive. “Our own research shows 48% of C-level executives worry about meeting the DEI promises they made. Workplace Equity IQ will make leaders smarter about DEI at their organizations so they can pinpoint exactly what needs to change and who to hold accountable for making progress.”

Prior to the launch, Momentive piloted Workplace Equity IQ internally and is committed to publicly sharing details on its own findings in the coming months. Workplace Equity IQ is currently in limited availability to Momentive customers in the United States. Visit the Momentive website to learn more and request pricing information.

About Momentive

Momentive (NASDAQ: MNTV – formerly SurveyMonkey) is a leader in agile experience management, delivering powerful, purpose-built solutions that bring together the best parts of humanity and technology to redefine AI. Momentive products, including GetFeedback, SurveyMonkey, and Momentive brand and market insights solutions, empower ​decision-makers at 345,000 organizations worldwide to shape exceptional experiences. More than 20 million active users rely on Momentive to fuel market insights, brand insights, employee experience, customer experience, and product experience. Ultimately, the company’s vision is to raise the bar for human experiences by amplifying individual voices. Learn more at momentive.ai.

Media Contact: [email protected]



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Nutanix Collaborates with Cyxtera, Intel and Other Industry-Leading Technology Partners to Launch Federal Innovation Lab

Nutanix Collaborates with Cyxtera, Intel and Other Industry-Leading Technology Partners to Launch Federal Innovation Lab

Nutanix Federal Innovation Lab, Powered by Cyxtera, Provides Ecosystem of Innovative Technology Companies to Support the Most Complex Government Workload Requirements

SAN JOSE, Calif. & MIAMI–(BUSINESS WIRE)–Nutanix (NASDAQ: NTNX), a leader in hybrid and multicloud computing, and Cyxtera (NASDAQ: CYXT), a global leader in data center colocation and interconnection services, today announced their partnership to launch the first Nutanix Federal Innovation Lab, powered by Cyxtera’s digital exchange and Enterprise Bare Metal. The Federal Innovation Lab, located in a Cyxtera data center in Northern Virginia, provides U.S. Federal customers as well as industry partners with an environment to build proofs of concept and test mission-critical applications using on-demand infrastructure that readily supports hybrid multicloud solutions via a single operating platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210817005169/en/

Developed and deployed in collaboration with Intel and other industry-leading technology solution providers, the Nutanix Federal Innovation Lab provides an ecosystem of seamless, dynamic, on-demand capabilities ready to help support testing of the most demanding workload requirements, at scale. The Innovation Lab is a dedicated space focused on translating technology innovation into proofs of concept to simplify and automate U.S. government agency IT environments for their journey to hybrid multicloud.

The Innovation Lab’s environment runs on the Nutanix Cloud Platform, recently certified for placement on the DoDIN Approved Products List which integrates compute, virtualization, storage, networking, security, and containers. The Nutanix Cloud Platform simplifies day-to-day management of a government agency’s IT environment – including over 80% faster deployment and less unplanned downtime, as well as nearly 60% more efficient infrastructure management – often resulting in significant cost savings and freeing IT’s time to focus on strategic efforts. The Nutanix Cloud Platform also supports extension from private cloud to the AWS GovCloud, providing a best-in-class solution to help U.S. Agencies adopt hybrid and multicloud architecture.

“The Nutanix Federal Innovation Lab is first-of-its-kind and allows our partners to come together immediately in a large, persistent Nutanix environment to quickly create IT results for Federal customers exploring our capabilities,” said Chip George, VP Public Sector at Nutanix. “This helps remove many of the obstacles involved in standing up real life IT workload tests so U.S. Government customers can confirm their acquisition needs and meet mission and operations objectives more efficiently.”

Solutions developed in the lab environment can be easily migrated to production across Cyxtera digital exchange – a purpose-built, software-programmable, and massively scalable network

infrastructure solution designed to meet the needs of U.S. Federal Agencies. With government security and compliance requirements in mind, the Cyxtera digital exchange includes processes, tools, and security controls tailored for federal government workloads and designated as FedRAMP Ready at the High Impact level.

“The Federal Innovation Lab offers a dedicated space for agencies to safely ‘test-drive’ solutions to understand how different workloads perform in a cloud-like environment; without rising costs, or the loss of control,” said Leo Taddeo, President, Federal Group at Cyxtera. “Until now, Federal agencies have been constrained in their ability to test the latest technologies given stringent adherence to security and regulation guidelines. The capabilities of public cloud are alluring yet overshadowed with challenges and concerns about the safety and feasibility of government entities leveraging the shared platform. The Nutanix Federal Innovation Lab, powered by Cyxtera, will provide resources to the continued exploration, adoption, and productization of Intel’s latest innovations in compute, networking, memory and storage with the Nutanix software stack.”

This Innovation Lab will provide an opportunity for government agencies to work with a next-generation hybrid multicloud environment to address the most critical IT requirements within the U.S. government. Whether an agency is looking to support an infrastructure, end user computing, DevSecOps, or database requirements, the Innovation Lab can provide these organizations with an environment that simulates the requirements of FedRAMP High controls on a single operating platform to confidently build and test solutions for the delivery of mission-critical applications.

“The Nutanix Federal Innovation Lab will use the latest Intel technologies, including Intel Xeon Scalable processors and Intel Optane persistent memory, to address mission critical challenges and deliver outcomes for government agencies,” said Greg Ernst, Vice President and General Manager of U.S. Sales at Intel.

Combining Cyxtera’s best-in-class colocation, intelligent automation, and rapid connectivity with the Nutanix cloud platform, the Federal Innovation Lab will support a variety of use cases and workloads including: private cloud; hybrid multicloud; end user computing; databases; dev/test; big data analytics; data protection and disaster recovery; machine learning/artificial intelligence; remote & branch office and edge; enterprise and unstructured data solutions and data storage.

For more information on the Nutanix Federal Innovation Lab, please visit

https://nutanix.com/go/federal-innovation-lab.

About Nutanix

Nutanix is a global leader in cloud software and a pioneer in hyperconverged infrastructure solutions, making clouds invisible, freeing customers to focus on their business outcomes. Organizations around the world use Nutanix software to leverage a single platform to manage any app at any location for their hybrid multicloud environments. Learn more at www.nutanix.com or follow us on social media @nutanix.

© 2021 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo and all Nutanix product and service names mentioned herein are registered trademarks or trademarks of Nutanix, Inc. in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This release may contain links to external websites that are not part of Nutanix.com. Nutanix does not control these sites and disclaims all responsibility for the content or accuracy of any external site. Our decision to link to an external site should not be considered an endorsement of any content on such a site. Certain information contained in this press release may relate to or be based on studies, publications, surveys and other data obtained from third-party sources and our own internal estimates and research. While we believe these third-party studies, publications, surveys and other data are reliable as of the date of this press release, they have not independently verified, and we make no representation as to the adequacy, fairness, accuracy, or completeness of any information obtained from third-party sources.

This release may contain express and implied forward-looking statements, which are not historical facts and are instead based on our current expectations, estimates and beliefs. The accuracy of such statements involves risks and uncertainties and depends upon future events, including those that may be beyond our control, and actual results may differ materially and adversely from those anticipated or implied by such statements. Any forward-looking statements included herein speak only as of the date hereof and, except as required by law, we assume no obligation to update or otherwise revise any of such forward-looking statements to reflect subsequent events or circumstances.

About Cyxtera

Cyxtera is a global leader in data center colocation and interconnection services. The company operates a footprint of more than 60 data centers in 28 markets around the world, providing services to more than 2,300 leading enterprises and U.S. federal government agencies. Cyxtera brings proven operational excellence, global scale, flexibility and customer-focused innovation together to provide a comprehensive portfolio of data center and interconnection services. For more information, please visit www.cyxtera.com.

Lia Bigano

Nutanix

[email protected]

Xavier Gonzalez

Cyxtera

[email protected]

KEYWORDS: United States North America California Florida

INDUSTRY KEYWORDS: Networks Security Data Management Technology Software

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DoubleVerify and MoPub Launch Expanded Partnership, Bringing DV’s Comprehensive Fraud Protection Capabilities to MoPub Marketplace

DoubleVerify and MoPub Launch Expanded Partnership, Bringing DV’s Comprehensive Fraud Protection Capabilities to MoPub Marketplace

DV will provide sophisticated in-app fraud protection to combat invalid traffic across MoPub’s exchange, supporting quality and performance for mobile publishers and advertisers

NEW YORK–(BUSINESS WIRE)–DoubleVerify (“DV”), (NYSE: DV), a leading software platform for digital media measurement, data and analytics, today announced an expanded partnership with MoPub, a Twitter company, which provides monetization solutions for leading mobile app publishers around the globe and enables advertisers, agencies, and demand-side platforms to programmatically reach their target audiences in mobile apps. With the partnership, DV will provide full fraud protection, detection and reporting for mobile app campaigns across MoPub’s programmatic exchange, MoPub Marketplace. MoPub Marketplace currently connects advertisers with more than 2 trillion ad requests from over 1.5 billion addressable users around the world.

“For advertising to perform, it must be seen by real people,” said Matt McLaughlin, COO of DoubleVerify. “Unfortunately, fraud follows the money — and as ad investments have shifted to mobile, bad actors are working hard to take advantage. For that reason, it’s imperative that brands have clarity into the quality of in-app inventory they buy. We’re excited to expand our partnership with MoPub to promote transparency, support mobile ad quality and performance, and empower marketers to reach their consumers wherever they are.”

DV and MoPub initially launched a partnership in 2019 where DV was the sole provider of fraud and IVT post-bid measurement for the MoPub Marketplace. This expanded partnership, which includes DV’s pre-bid avoidance segments and post-bid monitoring and blocking, further extends quality coverage for global advertisers and publishers across one of the world’s premiere mobile app programmatic exchanges. With DV’s technology, MoPub can continuously refine the quality of mobile inventory available through MoPub Marketplace.

“Ad fraud is an industry-wide challenge, impacting publishers, advertisers and SSPs. To ensure our inventory is top quality, MoPub continuously invests in keeping our Marketplace fraud-free, and having the right partnership in place is paramount for this effort,” said Michal Jacobsberg-Reiss, Head of Ecosystem Partnerships of MoPub. “DV has been a strong partner for combating new and emerging types of ad fraud. This expanded partnership supports our comprehensive, multi-step approach to ensure MoPub Marketplace is thoroughly vetted and monitored to uphold our already stringent, high standards of traffic quality.”

As part of its industry-leading mobile in-app fraud solution, DV identifies and screens the most significant types of in-app fraud, including background ad activity, hidden ads, app misrepresentation (spoofing), and measurement manipulation. Since March 2017, DV has been granted continued accreditation by the independent Media Rating Council (MRC), with the MRC certifying DV’s technology to detect and block sophisticated invalid traffic (SIVT) for mobile in-app display and video advertising.

For more information about DoubleVerify’s mobile app capabilities, contact [email protected].

About DoubleVerify

DoubleVerify is a leading software platform for digital media measurement and analytics. Our mission is to make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. Hundreds of Fortune 500 advertisers employ our unbiased data and analytics to drive campaign quality and effectiveness, and to maximize return on their digital advertising investments – globally.

About MoPub

MoPub, a Twitter company, provides monetization solutions for mobile app publishers and developers around the globe. Our flexible network mediation solution, leading mobile programmatic exchange, and years of expertise in mobile app advertising mean publishers trust us to help them maximize their ad revenue and control their user experience. MoPub Marketplace, our in-app exchange, enables DSPs and marketers to reach their audience through a powerful interface, strict supply quality and viewability measurement, and a transparent bidding experience. MoPub’s world-class service brings strategic business insights and data-driven expertise to meet the evolving needs of publishers and buyers.

Chris Harihar

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Technology Other Communications Communications Software Internet Social Media Search Engine Optimization Data Management Search Engine Marketing

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Herc Holdings to Acquire Texas-based CBS Rentals

Herc Holdings to Acquire Texas-based CBS Rentals

BONITA SPRINGS, Fla.–(BUSINESS WIRE)–
Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier operating as Herc Rentals Inc., announced today that it has entered a purchase agreement to acquire substantially all the assets of Texas-based CBS Rentals (CBS). The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close prior to the end of 2021. Terms were not disclosed.

CBS is a full-service general equipment rental company comprising approximately 190 employees and 12 locations serving construction and industrial customers throughout Texas, as well as locations in Carlsbad, NM, and Kingsport, TN. The addition of CBS expands Herc Rentals’ presence in Texas — one of the largest equipment rental markets in North America — to 38 physical locations, which collectively provide general and specialty equipment rental solutions and related services.

“I look forward to welcoming CBS Rentals to Team Herc,” said Larry Silber, president and chief executive officer. “Like Herc Rentals, CBS has more than 56 years of history, substantial equipment rental experience and a strong reputation for exceptional customer service, top-quality equipment and operational excellence.”

“Our combined teams and resources position Herc Rentals to be a preeminent equipment rental partner across Texas serving a diverse mix of construction, industrial and government customers. With many of its locations in major metropolitan markets, the addition of CBS supports our long-term strategy to achieve greater density and scale in select urban markets across North America to better serve both our local and national customers.”

“We expect the acquisition to be accretive to earnings in the first year. We remain well positioned to pursue growth through a variety of initiatives, including investment in key fleet categories, greenfield branches and acquired operations, while maintaining our commitment to a sound financial footing.”

About Herc Holdings Inc.

Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 280 locations in North America. With over 55 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, and studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 4,800 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2020 total revenues were approximately $1.8 billion. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.

Forward-Looking Statements

This press release includes forward-looking statements as that term is defined by the federal securities laws, including statements concerning our business, our growth strategy, the timing of the transaction, and the impact the acquisition will have on our business and our earnings. Forward looking statements are generally identified by the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts,” and future or conditional verbs, such as “will,” “should,” “could” or “may,” as well as variations of such words or similar expressions. All forward-looking statements are based upon our current expectations and various assumptions and, there can be no assurance that our current expectations will be achieved. They are subject to future events, risks and uncertainties – many of which are beyond our control – as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on the risks that may affect our business is included in filings we make with the Securities and Exchange Commission from time to time, including our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and in our other SEC filings. We undertake no obligation to update or revise forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

Paul Dickard

Vice President, Communications

[email protected]

239-301-1214

Elizabeth Higashi, CFA

Vice President, Investor Relations & Sustainability

[email protected]

239-301-1024

KEYWORDS: United States North America Florida Texas

INDUSTRY KEYWORDS: Trucking Automotive Transport Other Construction & Property Construction & Property Fleet Management

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Tenax Therapeutics Reports Second Quarter 2021 Results and Provides Business Update

Tenax Therapeutics Reports Second Quarter 2021 Results and Provides Business Update

MORRISVILLE, N.C.–(BUSINESS WIRE)–
Tenax Therapeutics, Inc. (Nasdaq: TENX), a specialty pharmaceutical company focused on identifying, developing and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need, today reported financial results for the second quarter of 2021 and provided a business update.

“We are entering an exciting period for Tenax Therapeutics, with continued progress being made for our two lead clinical programs – imatinib for the treatment of pulmonary arterial hypertension and levosimendan for the treatment of pulmonary hypertension associated with left heart failure,” said Christopher T. Giordano, Chief Executive Officer of Tenax Therapeutics.

“Our imatinib program for PAH remains on track, and we are presently completing the final stages of the formulation work. We believe our new, delayed release, oral formulation of imatinib will confer significant therapeutic advantages over the prior oral formulation, including improved GI tolerability and the potential for disease-modifying clinical activity.”

“With respect to levosimendan, our open label transition study using the oral formulation also remains on track. As a reminder, the purpose of this study is to determine the optimal dosage for levosimendan for our planned Phase 3 trial, which is expected to start in 2022. We believe oral delivery of levosimendan will provide more consistent blood levels compared to weekly IV administration, with the added benefit of administrative convenience to the patient. More than 50% of the subjects in this open label extension study have already transitioned from weekly IV infusion to the daily oral formulation.”

Recent Highlights

  • On August 16, 2021, Tenax held a KOL webinar on Levosimendan for pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF). The webinar featured a presentation by Key Opinion Leader (KOL) Daniel Burkhoff, M.D., Ph.D. (Cardiovascular Research Foundation) who discussed the current treatment landscape and unmet medical need in treating patients with pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF) and how levosimendan could become an important new treatment option for this patient population.
  • On August 12, 2021, Tenax announced the publication of a new article that identifies a novel mechanism of action behind the improved cardiovascular hemodynamics and exercise tolerance that was reported in the recent Phase 2 HELP Study (Burkhoff et al., JACC Heart Failure 2021; 9:360-70). The new publication, “Changes in Stressed Blood Volume with Levosimendan in Pulmonary Hypertension from Heart Failure with Preserved Ejection Fraction: Insights Regarding Mechanism of Action”appears in the Journal of Cardiac Failure. The article is available online as an “Article In Press.” https://www.onlinejcf.com/article/S1071-9164(21)00215-3/fulltext
  • Effective July 14, 2021, the Tenax Board of Directors appointed Mr. Christopher T. Giordano to serve as Chief Executive Officer and a Director of the Company. On July 7, 2021, Tenax announced a transition in connection with the retirement of its former CEO Mr. Anthony A. DiTonno following a successful decade of service with the Company.
  • On July 7, 2021, Tenax announced that it entered into a definitive agreement with a single healthcare-focused institutional investor for the issuance and sale of 4,773,269 Units at a purchase price of $2.095 per Unit. Each Unit consists of one unregistered pre-funded warrant to purchase one share of common stock, par value $0.0001 and one unregistered warrant to purchase one share of common stock. In the aggregate, 9,546,538 shares of the Company’s common stock are underlying the warrants. The unregistered pre-funded warrants have an exercise price of $0.0001 per share of common stock, are immediately exercisable, and may be exercised at any time until exercised in full. The unregistered warrants have an exercise price of $1.97 per share of common stock, are immediately exercisable, and will expire five and one-half years from the date of issuance. The aggregate gross proceeds to the Company of the offering was approximately $10 million

Financial Results

  • Research and development expenses for the second quarter of 2021 were $0.7 million, compared to $1.3 million for the second quarter of 2020.
  • General and administrative expenses for the second quarter of 2021 were $1.3 million, compared to $0.9 million for the second quarter of 2020.
  • Net loss for the second quarter of 2021 was $1.7 million, or $0.10 per share, compared to a net loss of $2.1 million, or $0.23 per share, for the second quarter of 2020.
  • Cash, cash equivalents and marketable securities totaled $2.2 million as of June 30, 2021, compared with $6.7 million as of December 31, 2020. Following the close of the second quarter, Tenax raised $10 million in gross proceeds from an equity offering with a single institutional investor. Including the proceeds from this offering, management expects that current cash, cash equivalents and marketable securities, including the net proceeds from the July 2021 offering, will be sufficient to fund current operations through the second quarter of 2022.

About Tenax Therapeutics

Tenax Therapeutics, Inc., is a specialty pharmaceutical company focused on identifying, developing, and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need. The Company has a world-class scientific advisory team including recognized global experts in pulmonary hypertension. The Company owns North American rights to develop and commercialize levosimendan and has recently released detailed results from the Phase 2 HELP Study of levosimendan in Pulmonary Hypertension associated with Heart Failure and preserved Ejection Fraction (PH-HFpEF) at the Heart Failure Society of America (HFSA) Virtual Annual Scientific Meeting. Tenax is also developing a delayed release oral formulation of imatinib, designed to avoid the gastric irritation, into a single pivotal trial pursuant to the 505(b)(2) pathway. For more information, visit www.tenaxthera.com.

About Levosimendan

Levosimendan is a calcium sensitizer that works through a unique triple mechanism of action. It initially was developed for intravenous use in hospitalized patients with acutely decompensated heart failure. It was discovered and developed by Orion Pharma, Orion Corporation of Espoo Finland, and is currently approved in over 60 countries for this indication and not available in the United States. Tenax Therapeutics acquired North American rights to develop and commercialize levosimendan from Phyxius Pharma, Inc.

About Imatinib

Imatinib is an antiproliferative agent developed to target the BCR-ABL tyrosine kinase in patients with chronic myeloid leukemia. The inhibitory effects of imatinib on PDGF receptors and c-KIT suggested that it may be efficacious in PAH. Imatinib reversed experimentally induced pulmonary hypertension and has pulmonary vasodilatory effects in animal models and proapoptotic effects on pulmonary artery smooth muscle cells from patients with idiopathic PAH. In a phase 3 clinical trial imatinib produced significant improvements in exercise capacity, but a high rate of dropouts attributed largely to gastric intolerance prevented regulatory approval.

Caution Regarding Forward-Looking Statements

This news release contains certain forward-looking statements by the Company that involve risks and uncertainties and reflect the Company’s judgment as of the date of this release. The forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to matters beyond the Company’s control that could lead to delays in the clinical study, new product introductions and customer acceptance of these new products; matters beyond the Company’s control that could impact the Company’s continued compliance with Nasdaq listing requirements; the impact of management changes on the Company’s business and unanticipated charges, costs and expenditures not currently contemplated that may occur as a result of management changes; and other risks and uncertainties as described in the Company’s filings with the Securities and Exchange Commission, including in its annual report on Form 10-K filed on March 31, 2021 and its quarterly report on Form 10-Q filed on August 16, 2021, as well as its other filings with the SEC. The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. Statements in this press release regarding management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

TENAX THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

 

 

 

 

 

 

 

Three months ended June 30,

 

Six months ended June 30,

 

 

2021

 

2020

 

2021

 

2020

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)
 
Operating expenses
General and administrative

$

1,271,278

 

$

869,206

 

$

2,644,738

 

$

2,192,165

 

Research and development

 

693,222

 

 

1,274,837

 

 

23,069,424

 

 

2,617,363

 

Total operating expenses

 

1,964,500

 

 

2,144,043

 

 

25,714,162

 

 

4,809,528

 

 
Net operating loss

 

1,964,500

 

 

2,144,043

 

 

25,714,162

 

 

4,809,528

 

 
Interest expense

 

336

 

 

406

 

 

949

 

 

406

 

Other (income) expense, net

 

(247,820

)

 

2,101

 

 

(249,955

)

 

(8,740

)

Net loss

$

1,717,016

 

$

2,146,550

 

$

25,465,156

 

$

4,801,194

 

 
Unrealized (gain) loss on marketable securities

 

(128

)

 

(3,238

)

 

204

 

 

(1,616

)

Total comprehensive loss

$

1,716,888

 

$

2,143,312

 

$

25,465,360

 

$

4,799,578

 

 
Net loss per share, basic and diluted

$

(0.10

)

$

(0.23

)

$

(1.60

)

$

(0.59

)

Weighted average number of common shares outstanding, basic and diluted

 

17,218,103

 

 

9,339,309

 

 

15,874,062

 

 

8,156,848

 

TENAX THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
 
June 30, 2021 December 31, 2020
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents

$

1,671,422

 

$

6,250,241

 

Marketable securities

 

510,943

 

 

462,687

 

Prepaid expenses

 

349,862

 

 

82,578

 

Total current assets

 

2,532,227

 

 

6,795,506

 

Right of use asset

 

338,698

 

 

58,778

 

Property and equipment, net

 

5,821

 

 

5,972

 

Other assets

 

8,435

 

 

8,435

 

Total assets

$

2,885,181

 

$

6,868,691

 

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable

$

791,947

 

$

757,856

 

Accrued liabilities

 

383,063

 

 

1,240,616

 

Note payable

 

–

 

 

120,491

 

Total current liabilities

 

1,175,010

 

 

2,118,963

 

Long term liabilities
Lease liability

 

239,039

 

 

–

 

Note payable

 

–

 

 

124,166

 

Total long term liabilities

 

239,039

 

 

124,166

 

Total liabilities

 

1,414,049

 

 

2,243,129

 

 
 
Commitments and contingencies; see Note 8
Stockholders’ equity
Preferred stock, undesignated, authorized 9,999,790 shares; See Note 9
Series A Preferred stock, par value $.0001, issued 5,181,346 shares; outstanding 210, respectively

 

–

 

 

–

 

Common stock, par value $.0001 per share; authorized 400,000,000 shares; issued and outstanding 25,201,312 and 12,619,369 respectively

 

2,520

 

 

1,262

 

Additional paid-in capital

 

272,953,869

 

 

250,644,197

 

Accumulated other comprehensive loss

 

(274

)

 

(70

)

Accumulated deficit

 

(271,484,983

)

 

(246,019,827

)

Total stockholders’ equity

 

1,471,132

 

 

4,625,562

 

Total liabilities and stockholders’ equity

$

2,885,181

 

$

6,868,691

 

 

Investor Contact:

John Mullaly

Managing Director

LifeSci Advisors, LLC

C: 617-429-3548

[email protected]

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Cardiology

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Eagle Point Credit Company Inc. Announces Second Quarter 2021 Financial Results

Eagle Point Credit Company Inc. Announces Second Quarter 2021 Financial Results

GREENWICH, Conn.–(BUSINESS WIRE)–
Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, ECCB, ECCC, ECCW, ECCX, ECCY) today announced financial results for the quarter ended June 30, 2021, net asset value (“NAV”) as of June 30, 2021 and certain additional activity through July 31, 2021.

SECOND QUARTER 2021 HIGHLIGHTS

  • Net investment income (“NII”) and realized capital gains of $0.32 per weighted average common share1 for the second quarter.
  • NAV per common share of $12.97 as of June 30, 2021, up 8% from $12.02 as of March 31, 2021.
  • Second quarter GAAP net income (inclusive of unrealized mark-to-market gains) of $42.0 million, or $1.26 per weighted average common share.
  • Weighted average effective yield of the Company’s collateralized loan obligation (“CLO”) equity portfolio (excluding called CLOs), based on amortized cost, was 14.98% as of June 30, 2021. Weighted average expected yield of the Company’s CLO equity portfolio (excluding called CLOs), based on fair market value, was 19.02% as of June 30, 20212.
  • Deployed $65.7 million in net capital into CLO equity and debt investments and received $36.4 million in recurring cash distributions3 from the Company’s investment portfolio.
  • 6 of the Company’s CLO equity positions were reset and 2 of the Company’s CLO equity positions were refinanced.
  • Issued 2,092,330 shares of common stock, pursuant to the Company’s “at-the-market” offering program, for total net proceeds of approximately $26.7 million.
  • Completed full exercise of the underwriters’ overallotment option of $5.9 million in aggregate principal amount of 6.75% notes due 2031 (“ECCW”), resulting in net proceeds of approximately $5.7 million.
  • Completed an underwritten public offering, including full exercise of the underwriters’ overallotment option, of 1.2 million shares of 6.50% Series C Term Preferred Stock due 2031 (“ECCC”), resulting in net proceeds of approximately $28.8 million.

SUBSEQUENT EVENTS

  • NAV per common share is estimated to be between $13.20 and $13.30 as of July 31, 2021, at the midpoint of the range, this represents an increase of 2% from June 30.
  • Received $35.3 million of recurring cash distributions from the Company’s investment portfolio during July.
  • Deployed $13.2 million in net capital into CLO equity and debt investments during July.
  • Issued 408,217 shares of common stock and 435,612 shares of Series C Term Preferred Stock, pursuant to the Company’s “at-the-market” offering program, for total net proceeds of approximately $16.3 million during July.
  • Declared 20% increase in common stock monthly distributions to $0.12 per share beginning in October 2021.

“We were very pleased with our second quarter performance. Our portfolio generated strong cash flow, our NAV increased and we were able to increase our common distribution,” said Thomas Majewski, Chief Executive Officer. “In the second quarter, we generated NII and realized capital gains of $0.32 per common share. This was reduced by $0.03 due to a non-recurring charge related to our ECCC issuance. Excluding this charge, we would have generated NII and realized capital gains of $0.35 per common share, 46% in excess of our common distributions paid during the quarter.”

“We strengthened our liquidity position during the quarter, completing the offering of our 6.50% Series C Term Preferred Stock due 2031, which represents our lowest cost of capital to date,” added Mr. Majewski. “We also took advantage of the attractive environment and proactively directed 6 resets and 2 refinancings during the quarter, enabling us to achieve meaningful savings and increase expected cash flows from these investments. Due to our proactive portfolio management, we increased the weighted average remaining investment period of the portfolio by six months during the quarter.”

“When we look back over the course of the pandemic, our portfolio has performed very well and our NAV per common share increased by 22% since the end of 2019 through June. Looking ahead, we remain well positioned to take advantage of investment opportunities and generate attractive risk-adjusted returns. Reflecting this confidence, we were pleased to further increase our monthly distributions by 20% to $0.12 per common share beginning in October,” concluded Mr. Majewski.

SECOND QUARTER 2021 RESULTS

The Company’s NII and realized capital gains for the quarter ended June 30, 2021 was $0.32 per weighted average common share. This compared to $0.28 of NII and realized capital gains per weighted average common share for the quarter ended March 31, 2021, and $0.28 of NII and realized capital losses per weighted average common share for the quarter ended June 30, 2020.

The Company’s NII and realized capital gains for the quarter ended June 30, 2021 was reduced by $0.03 per weighted average common share due to the non-recurring expenses associated with the ECCC offering.

For the quarter ended June 30, 2021, the Company recorded GAAP net income of $42.0 million, or $1.26 per weighted average common share. Net income was comprised of total investment income of $19.9 million, total net unrealized appreciation (or unrealized mark-to-market gains in the value of the Company’s investments and certain liabilities at fair value) of $31.2 million and realized capital gains of $1.1 million, partially offset by expenses of $10.2 million.

NAV as of June 30, 2021 was $447.3 million, or $12.97 per common share, which is $0.95 per common share higher than the Company’s NAV as of March 31, 2021, and $5.52 per common share higher than the Company’s NAV as of June 30, 2020.

During the quarter ended June 30, 2021, the Company deployed $65.7 million in net capital into CLO equity and debt investments, and converted 1 loan accumulation facility into a CLO. The weighted average effective yield of new CLO equity investments made by the Company during the quarter, which includes a provision for credit losses, was 17.0% as measured at the time of investment.

During the quarter ended June 30, 2021, the Company received $36.4 million of recurring cash distributions from its investment portfolio, or $1.09 per weighted average common share, which was in excess of the Company’s aggregate distributions on its common stock and operating costs for the quarter.

During the quarter ended June 30, 2021, 6 of the Company’s CLO equity investments were reset and 2 of the Company’s CLO equity investments were refinanced.

As of June 30, 2021, based on amortized cost, the weighted average effective yield on the Company’s CLO equity portfolio (excluding called CLOs) was 14.98%, compared to 14.40% as of March 31, 2021 and 12.33% as of June 30, 2020.

Pursuant to the Company’s “at-the-market” offering, the Company sold 2,092,330 shares of common stock during the second quarter for total net proceeds to the Company of approximately $26.7 million.

PORTFOLIO STATUS

As of June 30, 2021, on a look-through basis, and based on the most recent CLO trustee reports received by such date, the Company had indirect exposure to approximately 1,697 unique corporate obligors. The largest look-through obligor represented 0.8% of the Company’s CLO equity and loan accumulation facility portfolio. The top-ten largest look-through obligors together represented 6.1% of the Company’s CLO equity and loan accumulation facility portfolio.

The look-through weighted average spread of the loans underlying the Company’s CLO equity and related investments was 3.54% as of June 2021, a modest decrease from 3.56% as of March 2021.

As of June 30, 2021, the Company had debt and preferred securities outstanding which totaled approximately 33.2% of its total assets (less current liabilities). Over the long-term, management expects to operate the Company generally with leverage within a range of 25% to 35% of total assets under normal market conditions. Based on applicable market conditions at any given time, or should significant opportunities present themselves, the Company may incur leverage outside of this range, subject to applicable regulatory limits.

THIRD QUARTER 2021 PORTFOLIO ACTIVITY THROUGH JULY 31, 2021 AND OTHER UPDATES

During July, the Company received $35.3 million of recurring cash distributions from its investment portfolio. As of July 31, 2021, some of the Company’s investments had not yet reached their payment date for the quarter. During July, the Company deployed $13.2 million in net capital into CLO debt and equity investments.

As of July 31, 2021, the Company had approximately $54.7 million of cash available for investment.

Pursuant to the Company’s “at-the-market” offerings, the Company issued 408,217 shares of common stock and 435,612 shares of Series C Term Preferred Stock during July for total net proceeds to the Company of approximately $16.3 million.

As previously published on the Company’s website, management’s estimate of the range of the Company’s NAV per common share as of July 31, 2021 was $13.20 to $13.30.

DISTRIBUTIONS

The Company paid a monthly distribution of $0.10 per common share on July 30, 2021 to stockholders of record as of July 12, 2021. Additionally, and as previously announced, the Company declared distributions of $0.10 per share of common stock payable on August 31, 2021 and September 30, 2021 to stockholders of record as of August 11, 2021 and September 10, 2021, respectively, and distributions of $0.12 per share of common stock payable on October 29, 2021, November 30, 2021 and December 31, 2021 to stockholders of record as of October 12, 2021, November 10, 2021 and December 13, 2021, respectively. The ability of the Company to declare and pay distributions is subject to a number of factors, including the Company’s results of operations.

The Company paid a monthly distribution of $0.161459 per share of the Company’s Series B Term Preferred Stock due 2026 (NYSE: ECCB) on July 30, 2021, to stockholders of record as of July 12, 2021. The distribution represented a 7.75% annualized rate, based on the $25 liquidation preference per share for the Series B Term Preferred Stock. Additionally, and as previously announced, the Company declared distributions of $0.161459 per share on its Series B Term Preferred Stock, payable on each of August 31, 2021, September 30, 2021, October 29, 2021, November 30, 2021 and December 31, 2021 to stockholders of record as of August 11, 2021, September 10, 2021, October 12, 2021, November 10, 2021 and December 13, 2021, respectively.

The Company paid a distribution of $0.203125 per share of the Company’s Series C Term Preferred Stock due 2026 (NYSE: ECCC) on July 31, 2021, to stockholders of record as of July 12, 2021. The distribution represented a 6.50% annualized rate, based on the $25 liquidation preference per share for the Series C Term Preferred Stock. Additionally, and as previously announced, the Company declared distributions of $0.135417 per share on its Series C Term Preferred Stock, payable on each of August 31, 2021, September 30, 2021, October 29, 2021, November 30, 2021 and December 31, 2021 to stockholders of record as of August 11, 2021, September 10, 2021, October 12, 2021, November 10, 2021 and December 13, 2021, respectively.

Distributions on stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Company’s stockholders on Form 1099 after the end of the 2021 calendar year.

CONFERENCE CALL

The Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company’s financial results for the quarter ended June 30, 2021, as well as a portfolio update.

All interested parties may participate in the conference call by dialing (877) 407-0789 (toll-free) or (201) 689-8562 (international), and referencing Conference ID 13721432 approximately 10 to 15 minutes prior to the call.

A live webcast will also be available on the Company’s website (www.eaglepointcreditcompany.com). Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software.

An archived replay of the call will be available shortly afterwards until September 17, 2021. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13721432.

ADDITIONAL INFORMATION

The Company has made available on the investor relations section of its website, www.eaglepointcreditcompany.com (in the financial statements and reports section), its semiannual stockholder report for the period ended June 30, 2021 (which includes the Company’s unaudited consolidated financial statements as of and for the period ended June 30, 2021). The Company has also filed this report with the Securities and Exchange Commission. The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio as of and for the quarter ended June 30, 2021.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, primarily by investing in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC.

The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointcreditcompany.com). This information includes (1) an estimated range of the Company’s net investment income (“NII”) and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company’s NAV per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s NII and realized capital gains or losses per share for the applicable quarter, if available.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”). The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

1 “Per weighted average common share” data are on a weighted average basis based on the average daily number of shares of common stock outstanding for the period and “per common share” refers to per share of the Company’s common stock.

2 Weighted average effective yield is based on an investment’s amortized cost whereas weighted average expected yield is based on an investment’s fair market value as of the applicable period end as disclosed in the Company’s financial statements, which is subject to change from period to period. Please refer to the Company’s quarterly unaudited financial statements for additional disclosures.

3 “Recurring cash distributions” refers to the quarterly distributions received by the Company from its CLO equity and debt investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called.

Investor and Media Relations:

ICR

203-340-8510

[email protected]

www.eaglepointcreditcompany.com

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Professional Services Finance

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Incyte to Present at Upcoming Investor Conference

Incyte to Present at Upcoming Investor Conference

WILMINGTON, Del.–(BUSINESS WIRE)–
Incyte (Nasdaq:INCY) announced today that it will present at the Morgan Stanley 19th Annual Global Healthcare Conference (Virtual) on Monday, September 13, 2021 at 11:45 a.m. ET.

The presentation will be webcast live and can be accessed at Investor.Incyte.com and will be available for replay for 90 days.

About Incyte

Incyte is a Wilmington, Delaware-based, global biopharmaceutical company focused on finding solutions for serious unmet medical needs through the discovery, development and commercialization of proprietary therapeutics. For additional information on Incyte, please visit Incyte.com and follow @Incyte.

Media

Catalina Loveman, +1 302 498 6171

[email protected]

 Investors

Christine Chiou, +1 302 274 4773

[email protected]

 

KEYWORDS: United States North America Delaware

INDUSTRY KEYWORDS: Biotechnology Health Pharmaceutical Clinical Trials Oncology

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